BSc and MSc in Economics, London School of Economics, 1969, PhD in Economics, MIT. Until 1973, Assistant Professor of Economics, Univ. of Chicago; 1973, returned to the MIT Department of Economics as Associate Professor; 1977, became Professor of Economics; later, Killian Professor and Head of the Department of Economics, MIT; 1994, left MIT and joined the IMF; 1994-2001, First Deputy Managing Director, IMF; 1988-90, Vice-President, Development Economics and Chief Economist, World Bank; 2002-05, Vice-Chairman, Citigroup; May 2005, became Governor of the Bank of Israel; May 2010, reappointed for a second term; June 2013, stepped down. Distinguished Fellow, Council on Foreign Relations. Has held visiting positions at the Hebrew University, Jerusalem, and at the Hoover Institution, Stanford.